E.V. Demand Leads Automakers to a Strong 2024 Finish - The New York Times It's probably bugging sales Critters no end as they're justification of, "no one wants them" crumbles to pieces After current inventory clears out, and switch over to NACS happens, our older plugins may be ready to trade in .
EV sales in the 4th quarter were undoubtedly helped by the reality that Trump was going to win the election and remove the incentives. All the same, it shows that price is the only thing holding back consumers from buying them, and once economies of scale for electrics kick in, there will be no market for ICE vehicles.
I still don't believe that GM is fully sold on electric vehicles in general. They killed the electric car last time around, and I think they still want them to fail. I was at a car show a few years back, and I happened to be talking to a GM exec. I had some questions about the Bolt, but he couldn't say enough bad things about them.
The Biden EV tax credit is going away in ten days. It will hurt the EV sales a lot. https://www.axios.com/2024/12/26/trump-first-day-executive-orders
I don’t believe ending the rebates would hurt that much. Some? Sure. But sales will continue. As for ending the tax credits on day 1, it won’t happen. There is no mechanism for Trump to overturn a congressional action in a single day. At best, he could instruct the IRS to make the requirements so onerous almost no one would qualify (and close the lease loophole). I expect this to be the route he takes, but it can’t happen that quickly.
The lease credit is expected to stay there, and let’s hope so because it applies to Toyotas including the Prius PHEV.
Hmm, I was mistaken, according to Consumer Reports, the lease credit will go away, too. Everything you need to know about leasing a BEV or PHEV—Consumer Reports | PriusChat
Again - it's no big deal as less than 25% of new car sales are done under a lease. Then when you consider maybe four or five major manufacturers that have plugins and evs? No - it's a small fraction of a fraction. But wait ... you just stated with authority it's expected to be there. .
gm has invested many billions of dollars in ev and battery factories (as has most every manufacturer). i doubt they will back off. if there is a growth slowdown, they will reduce shifts as needed, and possibly delay future investments. but i don't expect things to change too much, even with the credit loss. there are still a lot of state incentives available.
